Rayani Air CEO willing to let go of shares

Ravi Alagendrran wants to ensure that the company will continue to grow and stay relevant.

FMT

PETALING JAYA: Rayani Air Chief Executive Officer Ravi Alagendrran is willing to give up a part of his shares to ensure that the airline continues to grow and remain relevant in the airline industry, MStar Online reported today.

Ravi said lack of funding was one of the main factors that caused the airline’s pilots to go on strike. He explained, however, that he had built the company alongside his wife Karthiyani Govindan, and was not willing to sell the airline completely.

“I’m not selling it entirely, but I will let the investors help the company grow.

“Any party that wants to invest and improve the company, we are ready (to let go of some shares),” he told The Star Online at his office in Shah Alam.

“I own Rayani Air and all 100% shares of it, but we are ready to let go some of it.

“My wife and the staff of Rayani Air love this company. We want it to continue growing and stay relevant,” he said.

According to Ravi, four investors – three of them local – had offered to buy the shares.

He added that all four investors had made an offer for at least 51% of the company’s shares.

“We are ready to let go. However, we need to make sure that the new investor will help the company grow.”

He explained that the first step would be to settle the company’s debts and pay the workers’ salaries.

“We will carry out restructuring to ensure more efficient operations and management. We will implement this matter before the development plan,” he said.

Previously, Ravi accepted a three-month suspension by the Department of Civil Aviation after the company ran into problems. Ravi had admitted that the airline faced financial difficulties which had then affected operations.

Mahathir makes bid to freeze Najib's assets worth RM2.6b

Mkini

Former prime minister Dr Mahathir Mohamad has filed an application for a mareva injunction against Najib Abdul Razak to freeze or prevent the prime minister from transferring, reducing (withdrawing) or dealing with assets worth RM2.642 billion.

Mahathir, 91, along with former Batu Kawan Umno vice-head Khairuddin Abu Hassan and former Langkawi Umno member Anina Saadudin, also filed an application for discovery, requiring Najib to inform and itemise his assets, including properties, credit balance, money and other assets kept in banks, financial institutions and as company shares.

The application was filed today at 10.40am through the firm of Haniff Katri at the High Court registry in Kuala Lumpur.

"The order for Najib to produce a list of his assets must be done within 10 days from the deliverance of this letter," the application states.

The application is based on all three of them having filed a civil action against Najib for tort of misfeasance in public office and breach of fiduciary duty, where they are seeking relief of exemplary damages of RM2.6 billion, and RM42 million in aggravated damages.

They said they have proven that RM2.6 billion had entered into Najib's personal account in Ambank in March 2013, and another RM42 million from SRC International Sdn Bhd, which was formerly a subsidiary of 1MDB.

All three further claimed that Najib has not denied the money entering into his personal accounts and that it was further confirmed, allegedly through attorney-general Apandi Ali in his press statement.

They further noted that Apandi's statement also verified that money had been transferred out of Najib's accounts allegedly to Saudi Arabia, and this proves that Najib has the tendency to transfer or shift his assets beyond the jurisdiction of the court.

Ramkumar mati di penjara Sg Buloh

Ramkumar a/l Govindasamy kp 910122-08-5907 umur 25 thn.di bunuh dgn kejam akibat dipukul serta di tikam dgn objek tajam sebyk 18 kali di penjara sg.buloh.Penjara adalah tempat yg di anggap paling selamat kerana kawalan yang ada namum penjara juga boleh menjadi tempat pembunuhan yg paling kejam .Di mana semua warden pergi yg bertugas 24jam ?? Tidur ke atau makan gaji buta??.

Mahathir: Zahid mistakenly named as Najib's successor

Move on, Zahid tells Dr M

The Star

IPOH: Datuk Seri Dr Ahmad Zahid Hamidi has told Tun Dr Mahathir Mohamad to move on after the explanation by the Saudi foreign minister over the RM2.6bil donation.

The Deputy Prime Minister said the matter – which had haunted the people, including Dr Mahathir – was now deemed over following Adel al-Jubeir’s confirmation last Friday that it was a genuine donation from Saudi Arabia to Prime Minister Datuk Seri Najib Tun Razak, with nothing expected in return.

“We need to have a big heart to accept the explanation,” Dr Ahmad Zahid told reporters after launching the Bumiputra Fund Outreach Expo at the Indera Mulia Stadium yesterday.

“There should be a full stop to the issue, which has brought a lot of polemics.

“His (Dr Mahathir’s) own hidden agenda has seen his hatred overshadowing the reality of the matter,” he added.

On the Automated Enforcement System (AES), Dr Ahmad Zahid said the Cabinet had received a memorandum on its implementation.

He reiterated that AES should not be seen as a punitive measure but a preventive one.

“If we don’t want such punitive steps to be taken, then the people ought to change their driving behaviour and habits.

“I know there will be different opinions about it. Its implementation has been delayed too long,” he said.

It has been reported that the Transport Ministry hopes to finalise the concession agreement for the AES once the Bill to amend the Road Transport Act is tabled in Parlia­ment.

Armed Forces Fund Board and Conglomerate Boustead Holdings Bhd will take over the operation of the AES.

Dr Ahmad Zahid said he was embarrassed that Malaysia was one of the countries with the highest number of road accidents.

He noted that China, with over one billion people, had a lower rate of road fatalities than Malaysia.“Malaysia saw over 6,500 deaths in road accidents last year.

“We also recorded an average of 445,000 traffic accidents annually.

“In comparison, populous China recorded 40 deaths daily from accidents,” he said.

Man seriously injured in parang attack

KUALA LUMPUR: A 34-year-old man was seriously injured when he was slashed by three men armed with parang at a 24-hour nasi kandar restaurant in Bandar Manjalara, Kepong here.

Sentul police chief ACP R. Munusamy said the victim sustained injuries on both legs in the 2am incident yesterday.

He said the victim, who was waiting for his friend at the restaurant, tried to run away when he saw the three men coming out from a car but fell in front of the restaurant.

Munusamy said the victim was warded at the Selayang Hospital. — Bernama